Air Lease Corp (AL) Given Average Rating of “Hold” by Analysts
Shares of Air Lease Corp (NYSE:AL) have earned an average recommendation of “Hold” from the twelve analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $48.78.
AL has been the subject of a number of analyst reports. Credit Suisse Group increased their target price on shares of Air Lease from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. ValuEngine lowered shares of Air Lease from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Citigroup assumed coverage on shares of Air Lease in a report on Friday, December 8th. They set a “neutral” rating and a $46.00 target price for the company. Bank of America set a $47.00 price objective on shares of Air Lease and gave the stock a “hold” rating in a report on Thursday, October 19th. Finally, Cowen raised their price objective on shares of Air Lease from $45.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, November 10th.
Shares of Air Lease (AL) opened at $48.38 on Friday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $4,990.00, a PE ratio of 13.90, a PEG ratio of 1.20 and a beta of 1.81. Air Lease has a 1-year low of $34.42 and a 1-year high of $50.21.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 4th. Shareholders of record on Thursday, December 14th were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, December 13th. This is a positive change from Air Lease’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.83%. Air Lease’s dividend payout ratio (DPR) is 11.49%.
In other news, Director Jie Chen sold 2,000 shares of Air Lease stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $43.82, for a total transaction of $87,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John L. Plueger sold 300,000 shares of Air Lease stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $41.34, for a total transaction of $12,402,000.00. Following the transaction, the chief executive officer now owns 1,057,310 shares of the company’s stock, valued at $43,709,195.40. The disclosure for this sale can be found here. Insiders sold 379,000 shares of company stock valued at $15,939,110 over the last 90 days. 9.76% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in AL. Zions Bancorporation purchased a new position in shares of Air Lease during the third quarter valued at approximately $114,000. QS Investors LLC increased its position in shares of Air Lease by 0.6% during the second quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock valued at $129,000 after acquiring an additional 21 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Air Lease by 10.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock valued at $134,000 after acquiring an additional 331 shares in the last quarter. Sciencast Management LP bought a new stake in shares of Air Lease during the second quarter valued at approximately $235,000. Finally, San Francisco Sentry Investment Group CA bought a new stake in shares of Air Lease during the second quarter valued at approximately $276,000. Hedge funds and other institutional investors own 91.87% of the company’s stock.
Air Lease Company Profile
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.
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